DELRAY BEACH, Fla., April 01, 2019 (GLOBE NEWSWIRE) -- Exactus Inc. (OTCQB: EXDI / OTCQB: EXDID), a healthcare company pursuing opportunities in Hemp derived, Cannabidiol (CBD) products, is pleased to announce the appointment of Troy Rhonemus to the Advisory Board.
Bringing over 20 years of experience of developing business strategies and managing cross functional teams, Troy Rhonemus currently serves as Sr. Director of Operations at Bolt Threads, INC, where he started in December 2018. At Bolt Threads, Mr. Rhonemus provides strategic vision and leadership of operations, quality, regulatory and development, and analytical R&D for the company. Mr. Rhonemus is the former Executive Vice President and Chief Operating Officer of ChromaDex, Inc., where he grew the company’s revenue from $10.2MM to $26.8MM led by growing their Ingredient Business from $2.5MM to $16.3MM. Additionally, Rhonemus was instrumental in transitioning the company from an ingredient company to a consumer product company with TRU NIAGEN® following the purchase of Healthspan Research.
Mr. Rhonemus, Exactus Advisory Board Member said, “I have been following Exactus since the company entered the CBD space and am impressed in what they have achieved in such short time. Exactus has built a solid foundation to grow from and has the right approach on how it conducts its business, separating the company from the competitors in the market. I am pleased to join Emiliano on the Advisory Board and I look forward to assisting the company achieve its mission.”
Prior to this, Rhonemus was a Business Process Manager with Cargill Health and Nutrition where he managed the operations and supply chain specifically for the Truvia enterprise from leaf to consumer products. In addition, he set the direction of the cross functional teams in the areas of operations and supply chain, technology, agronomy and sustainability.
Philip Young, CEO of Exactus said, “It is a pleasure to have Mr. Rhonemus join our growing Advisory Board. His expertise will be instrumental in advising the company on developing and executing a regulatory and development strategy. We are ready to open a dialogue with the FDA as we seek to lead all other companies by establishing appropriately compliant regulatory strategies in our farming, processing and manufacturing. It is our mission to become the most trusted name in the CBD space and we are building a team that possesses the necessary skills needed to achieve that goal.”
Recently, Exactus announced that it had placed its first million-dollar product order from its partner and largest shareholder Ceed2Med. The availability of the tinctures, gel caps and topical lotions puts Exactus in a strong position to meet the consumer demand generated from Hemp Healthy®, the company’s direct to consumer platform. Coinciding with the recently announced Exactus One World 200 acre Oregon farm acquisition, this ensures Exactus the quantity, quality controls and capabilities sufficient to ensure product availability through 2020.
For information about Exactus, their products and availability, please call 804-205-5036 or email, ir@exactusinc.com. For more information about Hemp Healthy®, or to purchase products, visit www.buyhempcbd.com.
About Exactus:
Exactus, Inc., is a healthcare company pursuing opportunities in two distinct business segments, Hemp derived, Cannabidiol, which is more commonly referred to as CBD. Industrial hemp is a type of cannabis, defined by the federal government as having THC (tetrahydrocannabinol) content of 0.3 percent or less. That amount has not been shown to make a person feel "high." THC is the psychoactive compound found in cannabis. The company is also developing point of care diagnostics. For more information about Exactus: www.exactusinc.com.
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Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Form 10-K for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission (the "SEC") on March 29, 2019 and under the heading “Risk Factors” in our Current Report on Form 8-K filed with the SEC on January 14, 2019, and in other periodic and current reports we file with the SEC. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor" below.
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For more information:
Company Contact:
Andrew Johnson
509.999.9696
ir@exactusinc.com